Property prices in West Lancashire

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Recent trends for prices in West Lancashire

The latest figures from February 2024 indicate the property market in West Lancashire continues to show falling price trends. Compared to January, 2024, average prices decreased by -0.8% to £233,530. On an annual basis, average property prices have increased 6.1% since 12 months ago.

In terms of sales activity, there were 57 residential property transactions completed in West Lancashire during February, 2024. Of these purchases, 21 were financed with a mortgage while 15 were all-cash sales. For cash buyers, average prices have changed by -0.8% since January, 2024, coming in at around £218,014. For properties purchased with a mortgage, the average price changed by -0.8% since January, 2024, to £241,008.

Compared to the overall picture in its national parent England, the average property price in West Lancashire are lower than the current national average of £297,735. While West Lancashire saw a change of -0.8% over the last month, England as a whole recorded a percentage change of 0.6% in average property values. And on an annual basis, prices across England have contracted by -1.1%, less than the 6.1% yearly change seen in West Lancashire.

Interested in purchasing a property in West Lancashire? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.

Average price in West Lancashire by housing type

Prices last recorded in February, 2024

average

£233,530

detached

£358,066

flat

£122,001

semi-detached

£220,871

terraced

£162,765

Prices by housing type in West Lancashire

Recent data shows that price growth has varied across different property types in West Lancashire over the last year. For terraced houses, property prices changed by -0.9% between February 2024 and January 2024 to reach £162,765, and changed by 4.3% over the last 12 months. The annual change was less than the -1.7% change seen for terraced homes in England overall.

Meanwhile, semi-detached properties saw a fall in average prices locally, taking them to £220,871 in January 2024. This represents a -0.6% change from the same month last year.This is outperforming the 0.2% annual change in semi-detached values across the country.

Detached homes in West Lancashire lost -0.8% month-over-month to reach an average of £358,066. Annually, detached property values have changed by 6.4%. This is stronger price growth compared to England's -0.5% change for detached houses over the year.

For apartments and flats, average prices decreased by -1% between February and January 2024, hitting £122,001. Over the last 12 months, apartment values have changed by 3.1%, surpassing England's flat and apartment growth rate of -2.8%.

Overall, semi-detached properties have seen the strongest price momentum locally over the past year, with a change of 7.5%, while flat properties lagged, with a change of 3.1%.

Recent purchases in West Lancashire

According to data from HM Land Registry, there were 57 completed property purchases in the area of West Lancashire in February 2024. Of these sales, 15 were recorded as cash purchases whilst 21 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by 6.4% and the percentage of properties purchased with cash has changed by 5.4%.

The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website

Looking for a specific property type?

Use one of the following links to find more specific information about the type of property you're looking for in west-lancashire.

Detached property prices in west-lancashire

Semi-Detached property prices in west-lancashire

Terraced property prices in west-lancashire

Flat & Apartment property prices in west-lancashire

First Time Buyer prices in west-lancashire

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